Dow Jones closes at record high, NASDAQ climbs over 2% on tech rally, Iran talks optimism

The Wall Street closed in the positive territory on Monday due to a rise in shares of major tech companies and declining oil prices after US President Donald Trump called off planned strikes against Iran.

The Dow Jones Industrial Average settled at a record high of 53,178.41, up 1.32%. The NASDAQ Composite gained 2.13% to end at 25,913.90, while the S&P 500 advanced 1.48% to 7,600.50.

Meta Platforms climbed 7%, and Amazon popped up more than 4%. Nvidia surged nearly 3%, while Microsoft and Alphabet rose close to 5% each.

In the last few days, the oil prices have also declined. Brent Crude, the international benchmark, has slipped 12.74% in a week's period to $84.41 per barrel. At the time of publishing this story, it was up 0.79%.

"The U.S.A. is locked and loaded and ready to go against the Islamic Republic of Iran, at levels of Military Terror, Strength, and Power not seen since World War II. Despite this, we have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal has been agreed to," Trump said in a post on Truth Social on August 2,

"This would include the Immediate, Complete, and Total OPENING OF THE HORMUZ STRAIT, and an end to Iran’s nuclear threat. Based on this request, I have agreed, for the future benefit of the WORLD and, likewise, the survival of a successful and prosperous Iran, to cancel the attack, subject to being able to rapidly make a DEAL. The Country of Israel joins me in this commitment. Get to work, everybody, and get it DONE. Thank you for your attention to this matter!" he added.

In another message, Trump said that Iran will never have a nuclear weapon. He also claimed that the Strait of Hormuz is completely controlled by the USA.

"Nothing gets through to Iran, unless we want it to, and nothing will get through, unless a Deal, or Total Surrender, is accomplished," he added.

Companies that will declare earnings on Tuesday include SpaceX, AMD, McDonald's and Amgen, among others.